State of Alaska Department of Revenue lifted its stake in MGIC Investment Co. (NYSE:MTG – Get Rating) by 6.6% in the 2nd quarter, HoldingsChannel reports. The firm owned 161,985 shares of the insurance provider's stock after buying an additional 10,011 shares during the quarter. State of Alaska Department of Revenue's holdings in MGIC Investment were worth $2,040,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Lazard Asset Management LLC bought a new position in shares of MGIC Investment in the 1st quarter worth about $26,000. Cyrus J. Lawrence LLC bought a new position in shares of MGIC Investment in the 1st quarter worth about $33,000. Quent Capital LLC bought a new position in shares of MGIC Investment in the 4th quarter worth about $49,000. Meeder Asset Management Inc. increased its stake in shares of MGIC Investment by 87,240.0% in the 1st quarter. Meeder Asset Management Inc. now owns 4,367 shares of the insurance provider's stock worth $59,000 after acquiring an additional 4,362 shares in the last quarter. Finally, Point72 Hong Kong Ltd bought a new position in shares of MGIC Investment in the 4th quarter worth about $71,000. 97.63% of the stock is owned by hedge funds and other institutional investors.

MGIC Investment Stock Down 1.6 %

NYSE:MTG opened at $13.19 on Friday. The firm has a market cap of $4.00 billion, a P/E ratio of 5.69, a P/E/G ratio of 1.06 and a beta of 1.44. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.62 and a current ratio of 0.62. MGIC Investment Co. has a fifty-two week low of $11.38 and a fifty-two week high of $16.84. The firm has a 50-day simple moving average of $14.30 and a two-hundred day simple moving average of $13.64.

MGIC Investment Increases Dividend

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on MTG shares. Credit Suisse Group increased their price target on shares of MGIC Investment to $17.00 in a research note on Monday, August 22nd. StockNews.com upgraded shares of MGIC Investment from a "hold" rating to a "buy" rating in a research note on Friday, August 5th. Bank of America upgraded shares of MGIC Investment from a "neutral" rating to a "buy" rating and set a $18.00 price objective for the company in a research note on Thursday, August 18th. Finally, Royal Bank of Canada upgraded shares of MGIC Investment from a "sector perform" rating to an "outperform" rating and raised their price objective for the company from $15.00 to $16.00 in a research note on Thursday, June 23rd. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $18.33.

About MGIC Investment

(Get Rating)

MGIC Investment Corporation, through its subsidiaries, provides private mortgage insurance, other mortgage credit risk management solutions, and ancillary services to lenders and government sponsored entities in the United States, Puerto Rico, and Guam. The company offers primary mortgage insurance that provides mortgage default protection on individual loans, as well as covers unpaid loan principal, delinquent interest, and various expenses associated with the default and subsequent foreclosure.

Featured Stories

• Get a free copy of the StockNews.com research report on MGIC Investment (MTG)
• Will Wall Street's Enthusiasm About Datadog Lead To Big Gains?
• MarketBeat: Week in Review 9/19 – 9/23
• Why Does Tesla Stock Remain Resilient?
• Are Layoffs At A Small-Cap Tech A Bellwether For Housing Stocks?
• Is Costco's Post-Earnings Price Weakness A Good Time To Buy?

Want to see what other hedge funds are holding MTG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MGIC Investment Co. (NYSE:MTG – Get Rating).

Receive News & Ratings for MGIC Investment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MGIC Investment and related companies with MarketBeat.com's FREE daily email newsletter.